Choate Investment Advisors Has $677,000 Stock Holdings in Trane Technologies plc (NYSE:TT)

Choate Investment Advisors raised its position in Trane Technologies plc (NYSE:TT) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832 shares of the company’s stock after purchasing an additional 147 shares during the quarter. Choate Investment Advisors’ holdings in Trane Technologies were worth $677,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies in the fourth quarter worth $611,322,000. Massachusetts Financial Services Co. MA lifted its position in Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after acquiring an additional 671,691 shares during the last quarter. FMR LLC grew its position in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company’s stock valued at $4,018,563,000 after purchasing an additional 397,537 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after purchasing an additional 350,277 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Trane Technologies by 42.9% during the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after purchasing an additional 293,916 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Up 2.8 %

Shares of Trane Technologies stock opened at $348.48 on Monday. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The stock has a market capitalization of $78.16 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a 50-day simple moving average of $364.65 and a 200 day simple moving average of $380.19. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is presently 33.42%.

Insider Activity

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup cut their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Finally, UBS Group cut their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.